Traders Purchase Large Volume of Bank of America Call Options (NYSE:BAC)

Key Points

• Bank of America call options surged, with traders buying 486,148 calls on Thursday — about 222% above the stock’s typical daily call volume. This points to a notable jump in bullish options activity around BAC.
• The company has several positive catalysts, including a planned cross-border real-time payments launch in Q3 and strong analyst sentiment, with 84% of covering analysts rating the stock a Buy and implying more than 20% upside.
• BAC shares rose to $54.06 after the options activity, and the bank also reported solid quarterly results, beating EPS and revenue estimates while raising attention through its quarterly dividend and ongoing institutional interest.

Bank of America Corporation (NYSE:BAC) saw unusually large options trading activity on Thursday. Stock traders acquired 486,148 call options on the company. This is an increase of approximately 222% compared to the typical daily volume of 151,166 call options.

Trending Headlines about Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Bank of America plans to launch a new cross-border real-time payments tool in the third quarter, which could deepen relationships with corporate and institutional clients while improving payment speed, tracking, and cost efficiency. Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice
• Positive Sentiment: Analyst sentiment remains constructive, with reports noting that 84% of the 25 analysts covering BAC rate it a Buy and that the average price target implies more than 20% upside. Here’s Why Bank of America Corporation (BAC) is Among the Best Low Cost Stocks
• Positive Sentiment: Bank of America’s wealth-management arm, Merrill, was recognized across three 2026 Barron’s rankings, reinforcing the franchise’s strength in private wealth and advisory services. Merrill Advisors and Teams Earn Recognition Across Three 2026 Barron’s Lists
• Neutral Sentiment: Financial stocks were broadly higher in Thursday afternoon trading, providing a favorable sector tailwind for BAC. Sector Update: Financial Stocks Rise Thursday Afternoon
• Neutral Sentiment: Reuters reported that Bank of America is participating in flashy events tied to the upcoming SpaceX IPO, which highlights dealmaking activity but does not yet indicate a direct financial impact. Wall Street banks and CEOs promote SpaceX in flashy events with BofA, Morgan Stanley, JPM events planned
• Negative Sentiment: Jim Cramer’s remarks on BAC were cautious, saying there may be “something that’s not that great happening there,” which could temper sentiment around the stock. Jim Cramer on Bank of America: “There’s Something That’s Not That Great Happening There”

Bank of America Price Performance

Bank of America stock traded up $1.66 during mid-day trading on Thursday, reaching $54.06. The company had a trading volume of 28,959,958 shares, compared to its average volume of 39,446,348. The company has a market capitalization of $383.62 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 1.18. Bank of America has a 1 year low of $43.66 and a 1 year high of $57.55. The stock's 50-day simple moving average is $51.40 and its 200-day simple moving average is $52.28. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The firm had revenue of $30.27 billion during the quarter, compared to analysts' expectations of $29.72 billion. Bank of America had a net margin of 16.78% and a return on equity of 11.49%. Bank of America's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. On average, equities analysts predict that Bank of America will post 4.45 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America's dividend payout ratio is 27.72%.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Royal Bank Of Canada restated an "outperform" rating and set a $59.00 price target on shares of Bank of America in a research note on Thursday, April 16th. HSBC raised their target price on shares of Bank of America from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Autonomous Res reduced their price target on shares of Bank of America from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Daiwa Securities Group increased their price target on shares of Bank of America from $58.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. Finally, Piper Sandler lifted their price objective on shares of Bank of America from $53.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and an average target price of $61.06.

Insider Activity at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $46.94, for a total value of $4,412,360.00. Following the transaction, the insider directly owned 170,184 shares of the company's stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total transaction of $6,719,335.56. Following the sale, the insider owned 1,373,397 shares in the company, valued at $72,803,774.97. This represents a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Bank of America

A number of institutional investors have recently added to or reduced their stakes in BAC. CoreFirst Bank & Trust boosted its position in Bank of America by 57.2% in the 1st quarter. CoreFirst Bank & Trust now owns 5,012 shares of the financial services provider's stock valued at $244,000 after buying an additional 1,824 shares during the last quarter. First Nebraska Trust Co bought a new stake in shares of Bank of America in the 1st quarter valued at approximately $471,000. Foguth Wealth Management LLC. bought a new stake in Bank of America during the first quarter valued at $225,000. Lavelle Capital LP bought a new stake in Bank of America during the first quarter valued at $405,000. Finally, Carlson Capital L.P. raised its holdings in shares of Bank of America by 225.4% during the first quarter. Carlson Capital L.P. now owns 48,160 shares of the financial services provider's stock worth $2,348,000 after purchasing an additional 33,360 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.

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